Vietnam will allow commercial banks to produce and import gold bars from October 10 under new government regulations.

Some propose a 20% tax on profits from gold trading, while others suggest a lower rate based on total transaction value.

Taxing income from gold trading has been deemed appropriate by experts to curb speculation and short-term trading. However, the tax policy needs to be adjusted to differentiate between legitimate savings and speculative activities, they said.

Financial experts support taxing gold profits but urge the government to exempt long-term savings and small-scale sales.

Before the Government Inspectorate was tasked with overseeing the gold trading sector, the State Bank of Vietnam (SBV) had already identified numerous violations by major companies.

The State Bank of Vietnam has revealed a full list of authorized outlets for gold bar transactions to ensure market transparency and protect consumers.

The indictment of former SJC General Director Le Thuy Hang highlights a critical institutional loophole: monopoly often leads to abuse of power and becomes fertile ground for corruption.

Vietnam's central bank has announced updated rules to liberalize gold import and production, aiming to diversify supply and enhance transparency in the domestic gold market.

The Government Inspectorate will lead a multi-agency probe into compliance, anti-money laundering, and market manipulation risks.

Prime Minister Pham Minh Chinh calls for urgent actions to stabilize the gold market and protect macroeconomic stability.

Safe-haven sentiment amid global gold fluctuations, combined with slow increases in domestic physical supply, is expected to keep gold prices high in Vietnam, but the price gap between domestic and global prices could narrow within 1-2 years.

Lifting gold bar monopoly, allowing import-export of raw gold to produce bars will increase supply, end the mindset of ‘buying gold at any cost’, narrow domestic-international price gaps, and cool down the market.

Despite new reforms, Vietnam’s gold market needs time to align with global prices due to supply delays and brand trust issues.

Decree 232 ushers in a major policy shift, replacing gold monopoly with regulated - competition.

Despite record-high gold prices, Ho Chi Minh City residents lined up early to buy gold, prompting stores to restrict access.

Vietnam lifts its gold monopoly, opening the door for major banks as SJC gold hits a record high.

The government has officially issued Decree No. 232/2025, amending and supplementing several articles of Decree No. 24/2012 on the management of gold trading activities.

The Ministry of Finance has proposed reducing the export tax on gold jewelry from 1% to 0% to support struggling businesses.

Despite heavy downpours and limited supply, long lines formed in Hanoi as gold prices reached a historic $4,924 USD per tael.

Global gold prices fall sharply, but SJC gold holds near record highs as Vietnam’s VN-Index hits a new peak.